Final answer:
The population of lizards is decreasing at a rate of 2 percent per year. The initial population is 75. The population is undergoing exponential decay with a decay rate of 2 percent per year.
Step-by-step explanation:
a. The population shows exponential growth, as the number of lizards decreases at a fixed rate of 2 percent per year.
b. The rate of growth or decay is 2 percent per year, as stated in the problem.
c. The initial amount of lizards is 75, as given in the problem.
d. The function representing the population is: P(t) = P₀(1 - r)^t, where P(t) is the population at time t, P₀ is the initial population, r is the decay rate (0.02), and t is the time in years.
e. To find how many years it will take for the population to drop below 50, we can set up the following inequality: 75(1 - 0.02)^t < 50. Solving for t, we find that it will take approximately 15 years for the population to drop below 50.